Legal Changes for Business Owners Coming Soon

Important Information About Legal Entity Accounts

 

New Rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats.

Each time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number, as well as identification documents) for:

  • Each individual that has beneficial ownership (25% or more); and
  • One individual that has significant managerial control of the Legal Entity


If you are opening an account on behalf of a Legal Entity, you will be required to provide the appropriate documentation and to certify that this information is true and accurate to the best of your knowledge.


We proudly support all efforts to protect and maintain the security of our customers and our country.

 

See this example of information that will you will be required to supply, along with verification of identification.